Loss of oil rig legs during ocean tow constituted a fortuitous peril of the seas rather than inherent vice under marine insurance law.
insurance
Under Insurance Contracts Act s.54, an insurer cannot refuse a claim on the basis of the insured's breach of duty of disclosure where that breach did not cause or contribute to the loss.
Insurance contract construction follows general commercial contract principles, requiring consideration of text in context and giving effect to the commercial purpose.
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